Ha! Ha! That guy got angry because I did not give him enough sympathy. If you look at his post history you will see he disappeared after that. I help out a lot in the electrum forum and get thanked a lot. Perhaps you should take a closer look at my post history instead of judging me from some fly by night's tantrums.

14 million is not a lot relatively speaking. There must be at least a billion android devices out there.

Well I'm not a noob and we are all here because it's profitable. Unless of course you aren't? In which case you must be some sort of religious person who worships Satoshi.

Anyway remittances are definitely possible with bitcoin. You need a network of agents though. That's how remittances work. Ordinary folk here don't know how to use a computer or the net. They just go to an agent's and he uses a computer and internet connection to process their transaction for them. This way the poor avoid having to deal with the volatility of bitcoin as well. They get the local currency and bitcoin is just a medium for the money transfer.

I should like to point out that the idea that you buy bitcoin to escape inflation is a little odd. Bitcoin supply is inflating at the rate of 10% per annum at least. We are all just betting that adoption will be even faster. I don't think poor people have the sort of savings buffer that would allow them to make bets like that. It is too risky for them.

The lack of internet access is not such a big deal. Dumb phone usage is already high. Smart phone prices keep falling. We'll get there soon enough.

When you spend money your wallet will take that .000199 plus any other coins in other addresses you own and then send them to whoever you are sending money to. So if someone wants to know which other addresses belong to you they can do that by looking at the blockchain.

Yep. Addresses should also be familiar ones that you've seen before. The same goes for transactions and balance.


You can use the getseed command to see the seed in both hex and mnemonic form. Or you can use mnemonic.py to convert any arbitrary seed from one form to another.

Electrum getseed via command line/shell:



mnemonic.py: First find mnemonic.py on your file system then run this:

Shut down electrum. Find your electrum directory and back it up. This is how you find your electrum directory:

https://en.bitcoin.it/wiki/Electrum#Wallet_File

Then delete the file named "config" in your electrum directory. Run electrum now and see if the network preferences window will open up.

See here:

https://github.com/spesmilo/electrum/issues/463

You can restore using hex digits too. So type in any 31 hex digits instead of 32 and see what happens.

Some combination of mnemonic words must also be triggering this bug. But it is most easily reproduced using the seed in hex.

What is the definition of active machine then? If the Udoo pc is doing mining then its connected to the Internet and very much an active machine.


I have never heard of such an option. Where in sshd_config is there such an option?


It doesn't work like that. You have to specify the recipient's address and amount and it is bitcoind that will send the transaction over the network.

Yes you should upgrade to 1.9.8. Otherwise educate yourself to avoid this bug:

https://bitcointalk.org/index.php?topic=637223.msg7131692#msg7131692

Electrum tries to ensure that you have unused address equal to your gap limit. The gap limit is 5 by default. It means if you receive bitcoins to an unused address then electrum will generate a new one to ensure that you have 5 unused ones. If you receive bitcoins to an address that has previously received bitcoins then obviously there is no need to generate new addresses. They were already generated when you received bitcoins to that address the first time. I hope you understand.



Electrum monitors transactions and creates new addresses like I described above. That is all that happens.


Yes it will but addresses that you have spent from are tucked away under 'receive' tab >'main account' > 'used' to reduce clutter. In case you are wondering you can still continue to use them to receive or send bitcoins in future.

1. I suggest running electrum and using file > save copy to create a backup file for copying to a different computer. On the other computer you can use file > open to use that wallet backup.

2. Bitcoins are sent to addresses. They look like this:

1BitcoinEaterAddressDontSendf59kuE

There is no such thing as a wallet id. Please use the correct terminology so that there is no confusion.

You can only send from addresses that have already received bitcoins. The balance next to the address should show a non-zero number. This is how you send from specific addresses:

https://bitcoinspakistan.com/blog/coin-control-in-electrum/

As far as receiving to a specific address goes, just share the specific address you want to receive to with the payer and that's where they'll send the bitcoins.

You can't create new addresses. They are created automatically so that you always have 5 unused ones. If you want more than that you will have to increase the gap limit. This is not for newbies but if you want to try it is explained here:

https://bitcointalk.org/index.php?topic=344115.msg3690179#msg3690179

3. You send from the addresses which have received coins. If you want to see the specific inputs and outputs of a transaction right click on it in the history tab and choose details. If you want to control which addresses you send from see the blog post about coin control that I linked to above.

4. It is the balance of all your addresses.

The wallet will pick and choose inputs from multiple addresses to satisfy your spending requirements. That is what the wallet does automatically and it is why we use wallets instead of individual addresses.

5. You can't delete addresses. No bitcoin client provides this option. The risk of loosing bitcoins is too great.

Yes.


Yes.

The idea is that first level of keys from the master key are hardened ones and subsequent levels are the normal ones. This allows you to protect the master private key and get deterministic address generation using extended public keys too (from third level onwards).

edit: see the info here:

http://blog.richardkiss.com/?p=313

Hierachical address system could mean deterministic addresses. The standard for those is BIP32. You can generate unlimited addresses from a single extended public key.

You will still need to feed all the unspent outputs into your send transaction though. No way around that.

Are you using version 1.9.7? There is a bug in 1.9.7 where if you enter an incorrect seed it creates  a wallet with a seed that is not secret. Any bitcoins sent there are stolen.

https://bitcointalk.org/index.php?topic=637223.msg7131692#msg7131692

This won't work though. To spend from the wallet even once you will need to recreate the entire seed. So from that point onwards one person can access the wallet all by himself. Splitting the seed is ok for backups but not for what you are trying to do.

You will have to wait for multisig which is due in electrum 2.0.

No this would be bad. I'd like to be able to see the addresses on my offline wallet so that I know they match the ones on my online one.

Think of your watch only wallet as a window into your cold storage. It allows you to look at but not touch your bitcoins. That 0.002 balance is in your cold storage not on your online computer.

The technical details are as dabura said. The blockchain is a ledger that records transactions and bitcoin is a ledger rather than token based currency.

I don't know. I am not a cryptologist. However, it is not an original algorithm that they are using. They are not rolling their own crypto. It is one of the widely accepted algos listed above. They follow up the scrypt with pbkdf2 as well.

Warp wallet uses scrypt.